TORONTO, ONTARIO -- (Marketwire) -- 02/28/13 -- Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE: ALR) will be participating at this year's Prospectors and Developers Association of Canada (PDAC) Conference taking place at the Metro Toronto Convention Center from March 3rd to 6th. Alder will be located in booth 2620 on March 5th (10:00 AM - 5:30 PM) and March 6th (9:00 AM - 12:00 PM). Management will be available at the booth to discuss any questions regarding the Company and its future plans.
Alder Director, the Honourable Pierre Pettigrew, PC, will be providing a corporate overview as part of the Nicaragua: Discover the mining opportunities session sponsored by the Nicaragua Chamber of Mines on March 5th from 2:00 to 5:00 PM in room 205DC in the North Building of the Convention Centre. All are welcome to attend, registration is not required. For a technical discussion of the project please visit our booth.
Corporate Update Summary
The Company has made significant advancements in the Rosita porphyry/skarn project including completion of 5,900 metres of diamond drilling in 20 holes, 1,500 metres of reverse circulation drilling on stockpiles leading to a NI 43-101 compliant inferred mineral resource, ground Induced Polarization and magnetic surveys, soil sampling surveys, excavation of 16 trenches and completion of a detailed mineralogical study of the stockpile resource. Highlights include:
-- Definition of a 7.95 million tonne inferred mineral resource grading 0.62% Cu, 0.46 g/t Au and 9.2 g/t Ag for the mine stockpiles (see news release dated May 9, 2012);-- Completion of 18 diamond drill holes at Santa Rita resulting in the delineation of a 1,100 metre long trend of Cu-Au-Ag skarn mineralization;-- Discovery of a high grade gold zone that overprints the skarn mineralization at Santa Rita;-- Discovery of a high grade Cu+Au+Ag supergene enriched blanket at Tipispan that includes 7.48% Cu, 2.36 g/t Au and 316.13 g/t Ag over 6.5 metres and 5.21% Cu, 4.4 g/t Au and 144.01 g/t Ag over 12.1 metres in trenches; and-- Identification of high grade (1-2% Cu) exotic Cu-Au-Ag mineralization in the Bambana area;
The Company intends to focus efforts primarily on two aspects of the project in 2013. Exploration will continue at the Tipispan porphyry target and may include detailed soil sampling, trenching and drilling. In addition, Alder is currently exploring ways to advance the development of the stockpile resource, including metallurgical studies, economic modeling and a scoping study with respect to a small scale production facility.
Quality Assurance/Quality Control
Alder has implemented an industry standard Quality Assurance/Quality Control program that includes the insertion of certified standards and blanks into the sample stream. Samples were collected into heavy gauge plastic bags, sealed on-site, then stored at Alder's Rosita field office until transported by company or laboratory personnel to Inspectorate Exploration and Mining Services' sample preparation facility in Managua. In Managua, pulps were prepared for shipping to Inspectorate's Analytical laboratory in Reno, Nevada, where each sample was analyzed via 1 assay-tonne fire assay for gold and 30 element ICP (Inductively Coupled Plasma-atomic emission spectrometry) methods for copper, silver and 28 other elements.